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BRP Purchases New Rochelle Office for Multifamily Redevelopment

Somnia Sells Bldg for $5.5M
April 6, 2018
BRP Development Corporation of New York City purchased the office building at 10 Commerce Dr. in New Rochelle, NY from Somnia, Inc. for $5.45 million, or about $151 per square foot.

The 36,000-square-foot office building was originally built in 1982 on 1.2 acres in Westchester County.

BRP Development will redevelop the site into a multifamily building. Plans call for groundbreaking by year-end on the 172-unit building with 157 parking spots. When it delivers in the first quarter of 2020, the property will offer an outdoor courtyard in the middle of the building.

Robert Hassler from IRG Realty Advisors represented the seller. The buyer handled the sale in-house.

Please see CoStar COMPS #4176469 for additional information on this transaction.
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